Archive for November, 2009
Where is Center Grove anyway?
November 30th, 2009 categories: Townhouses
I write about the Center Coconut Grove townhouse market all the time on my blog and one of the questions I get asked frequently is “Riley, where exactly is Center Grove?”.
The true Center Grove lies from Bird Avenue and continues south to Oak Avenue, then from 32nd Avenue east to 27th Avenue. In my opinion, there is certainly a premium for real estate within this box.
Due to the explosion of construction we saw a few years ago in Center Grove, some people expanded the boundaries of the area to the north and to the west. I like to call them the fringe areas of Center Grove. The fringe area lies from Bird Avenue north to US1, and from 32nd Avenue west to Hibiscus Street.
The Center Grove townhouse market remains slow right now even though prices are already heavily discounted. There have only been a few closed sales in the past 30 days.
3090 Lime Court | List Price: $449,425 | Sale Price: $400,000 | 3 Bedroom,2.5 Bath | 1,847 Sq. Ft.
3054 Day Avenue | List Price: $369,000 | Sale Price: $315,000 | 3 Bedroom, 2.5 Bath | 1,710 Sq. Ft.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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New Construction Home Closes on Tigertail Avenue
November 27th, 2009 categories: Coconut Grove Real Estate
This house was featured last week in my post titled “New Construction Homes In Coconut Grove”. Turns out the home was actually under contract but the real estate brokerage company never listed it as a Pending Sale (some companies don’t ever change the status until the home closes).
The home sold today for a price of $1,260,000 ($291.00 per square foot). It was a 4 bedroom, 4.5 bath with 4,322 square feet of living area on a 6,250 square foot lot.
I track every sale in the Grove and the recent sales trend for new construction homes in Coconut Grove has been $300+ per square foot. In my opinion, the reason this one sold below that number is due to the fact that (1) It was located on a busy part of Tigertail Avenue, (2) There was virtually no land (3) The house is not gated and has little privacy from the street and (4) The finishes were not as good as other new constructions currently on the market.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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From My Family To Yours…Happy Thanksgiving!
November 26th, 2009 categories: Coconut Grove Real Estate
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Another “Real Estate Coconut” Success Story
November 25th, 2009 categories: Selling Real Estate in Coconut Grove
The story began when some buyers contacted me from the blog and asked for my assistance in helping them find a home here in Coconut Grove. They were originally interested in my Matheson Avenue listing but upon seeing it told me that they really wanted something more “Grovey”, with more land, and priced in the low $500k’s.
A few days later, an associate in my office mentioned to me that her Battersea listing (priced at $749,000) was now a short sale. I knew right away that it was THE property for my clients and took them over to see it. They immediately made an offer.
Due to the fact that the property was a short sale and that the tenant living in the house had a “right of first refusal” we knew ahead of time that it would not be an easy transaction. The right of first refusal was a contract between the tenant and the owner/landlord that the tenant had a right to match any offer presented by a buyer.
After waiting several weeks, making many calls to the lawyer, and suffering through many missed deadlines (on the seller’s part), my clients finally received notice that the tenants would not be exercising their right of first refusal AND received notice that the bank had approved the short sale. Having all of the details wrapped up, we closed on the house last week for $525,000.
An interesting twist to the story is that 3 years ago this same house was listed at $1,350,000. I had a client (a builder) who made an offer the first day it came on the market at a price of $1,300,000. He was interested in splitting the lot and building two separate houses. The sellers turned his offer down. Hindsight is 20/20 as they say.
After all was said and done, the current buyers are thrilled with their purchase and I am happy to welcome them as new Coconut Grove residents!
Details on 4035 Battersea Road:
- 2,085 Sq. Ft. Living Area
- 13,000 Sq. Ft. Lot
- 2 bedrooms/2 baths
- List Price: $749,000
- Sale Price: $525,000
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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New Construction Homes In The Grove
November 24th, 2009 categories: Coconut Grove Real Estate
I have several clients looking for new construction in Coconut Grove. Unfortunately there is not a lot on the market right now in that sector (only about 10 currently for sale). By new construction, I am referring to those built in 2007 to the present.
The average List Price Per Square Foot of new construction homes in Coconut Grove right now is $398.00 p.s.f., and the average list price is $1,800,000.
Quality varies significantly when it comes to new construction here in the Grove and it is helpful to have someone like myself who knows the different builders and can steer you towards the best property for your money.
Click here to see new construction homes in Coconut Grove.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Buyer Activity Is Up, Listing Activity Is Down in Coconut Grove Real Estate
November 23rd, 2009 categories: Buying Real Estate in Coconut Grove, Selling Real Estate in Coconut Grove
Buyers have been very active the past few weeks in Coconut Grove. I am out with clients just about every day showing property and we have had record numbers at our open houses.
Where are my buyers coming from? The majority of my buyers are coming from out of town, mainly the Northeast and a few from outside the US. I also have some who currently live in Coconut Grove and are wanting to upsize/downsize, and some renters from the Brickell area looking to buy.
On the other hand, listing activity has been slow across the board. We see this slow down every year around Thanksgiving time because people like to wait until after the holidays to put their home on the market. Although it may be more convenient to wait until January to put your house for sale, these people are missing out on one of the busiest months of the year. Think of all the out of towners who will not get to see their homes!
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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South Grove Open House TODAY!
November 22nd, 2009 categories: Coconut Grove Real Estate
In case you missed it in the Herald this morning, I am holding my listing located at 3625 Bougainvillea Road in South Coconut Grove open today (Sunday, November 22) from 2:00 to 4:00.
The home features 4,442 square feet of living space, 5 bedrooms, 5.5 baths on an 8,260 square foot lot. The home features separate a separate guest room with bath, large open spaces, formal dining room, beautiful entertainment center, his/her closets, beautiful courtyard and pool with yard. The home was built in 2001. Asking Price is $1,399,000.
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South Coconut Grove Foreclosure Is Under Contract In Less Than A Week
November 19th, 2009 categories: What is selling in Coconut Grove?
Just as I predicted, the foreclosure I wrote about last weekend got snapped up in a matter of days. It officially went pending today.
I took several clients over to see the house but they all decided that it was more of a “project” than they were hoping for.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Recent Pocket Listing Sales
November 19th, 2009 categories: Coconut Grove Real Estate
There have been a few sales recently that sold before they ever made it to the MLS. Both of these homes were pocket listings by my fellow EWM colleagues, congratulations!
2727 Hilola Street | 5 Bedrooms/5 Baths| 3,471 Sq. Ft. | 10,316 Sq. Ft. Lot | Sale Price: $1,135,000 | Sale Price PSF: $326.00 | Built in 1950 and had been renovated.
1600 Tigertail Avenue | 3 Bedrooms/3 Baths | 2,321 Sq. Ft. | 11,445 Sq. Ft. Lot | Sale Price: $665,000 | Sale Price PSF: $286.00 | Built in 1933 and had been semi-updated.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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The Snowbirds Are Coming!
November 18th, 2009 categories: Condos
It is that time of year again when the northerners head south for the winter. For all of you who are interested in second homes, Coconut Grove has one of the most stable condo markets in South Florida. Our luxury buildings here in Coconut Grove offer bay views and top amenities.
Click on the links below to see what is available in our most popular condo buildings:
- Grovenor House: 22 for sale |6 closed this year.
- Ritz Carlton: 22 for sale | 3 closed this year.
- Grove Hill: 2 for sale | 3 closed this year.
- Grove Towers: 9 for sale | 1 closed this year.
- Yacht Harbor: 8 for sale | 5 closed this year.
In the above buildings there are only 2 units that are in foreclosure and they are both in Grove Towers (Unit 9A and 3F).
I handle many relocations to Coconut Grove and the surrounding areas.. If you are interested in buying a second home or relocating please contact me at (305) 342-1623 or send me a note here.
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